Difference between revisions of "Price"
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| − | Price is the amount of money expected, required, or given in payment for something. In business terms, price is the amount a customer is willing to pay for a product or service. The difference between the price paid and costs incurred is profit. If a customer pays $10 for a product that costs $6 to make and sell, the company earns $4 in profit.<ref>[https://www.investopedia.com/ask/answers/101314/what-difference-between-cost-and-price.asp What does price mean?]-Investopedia</ref> | + | Price is the amount of money expected, required, or given in payment for something. In [[business]] terms, price is the amount a customer is willing to pay for a product or service. The difference between the price paid and costs incurred is profit. If a customer pays $10 for a product that costs $6 to make and sell, the company earns $4 in profit.<ref>[https://www.investopedia.com/ask/answers/101314/what-difference-between-cost-and-price.asp What does price mean?]-Investopedia</ref> |
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===See Also=== | ===See Also=== | ||
| − | *[[Business]] | + | *[[Business Value]] |
*[[Strategy]] | *[[Strategy]] | ||
*[[IT Strategic Plan (Information Technology Strategic Plan)]] | *[[IT Strategic Plan (Information Technology Strategic Plan)]] | ||
Revision as of 21:02, 4 November 2022
Price is the amount of money expected, required, or given in payment for something. In business terms, price is the amount a customer is willing to pay for a product or service. The difference between the price paid and costs incurred is profit. If a customer pays $10 for a product that costs $6 to make and sell, the company earns $4 in profit.[1]
See Also
- Business Value
- Strategy
- IT Strategic Plan (Information Technology Strategic Plan)
- IT Sourcing (Information Technology Sourcing)
- IT Operations (Information Technology Operations)
References
- ↑ What does price mean?-Investopedia